Endava (DAVA) Stock Analysis & Winston Score

Endava is a technology services company that helps businesses build and improve software. It works with clients in industries like payments, financial services, healthcare, and media — writing code, designing apps, and managing digital projects on their behalf. The company is headquartered in London and employs thousands of software engineers, mostly based in Eastern Europe, Latin America, and Asia. Endava makes money by charging clients for the hours its engineers work, essentially renting out skilled technology talent at scale. It operates across Europe, North America, and beyond, with a workforce model that keeps costs lower than hiring in-house developers in the US or UK — that cost advantage is a key part of its appeal. However, the company has recently struggled with slowing demand from clients cutting technology budgets, which has pushed operating margins into negative territory, and returning to consistent profitability is the central challenge it faces going forward.